Krispy Kreme Ends Pact with Franchisee
Krispy Kreme Doughnuts Inc. said a subsidiary agreed to end its relationship with a Houston-area franchisee, and the six locations there will no longer operate as Krispy Kreme stores as of March 8.
The agreement allows both sides to settle outstanding disputes and claims, including the dismissal of a lawsuit filed by Lone Star Doughnuts Ltd.
The Winston-Salem, N.C.-based chain has been grappling with a restatement of past financial results, a Securities and Exchange Commission investigation into its accounting and a decline in doughnut sales.
Shares of Krispy Kreme rose 15 cents to $6.46.
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